Roy Choi

And that's how Avenue 26 started to really blossom and emerge.

And that's how Avenue 26 started to really blossom and emerge.

There's multiple. Part of it is we don't pay enough as consumers for food or certain types of food. Again, going back to racial marginalization and stereotypes and things like that, we will go to an Italian restaurant on the west side and pay $42 for pasta because of all of the folklore and storytelling behind it, which helps a restaurant thrive.

There's multiple. Part of it is we don't pay enough as consumers for food or certain types of food. Again, going back to racial marginalization and stereotypes and things like that, we will go to an Italian restaurant on the west side and pay $42 for pasta because of all of the folklore and storytelling behind it, which helps a restaurant thrive.

There's multiple. Part of it is we don't pay enough as consumers for food or certain types of food. Again, going back to racial marginalization and stereotypes and things like that, we will go to an Italian restaurant on the west side and pay $42 for pasta because of all of the folklore and storytelling behind it, which helps a restaurant thrive.

But we won't pay more than $6 or $7 for pho or for chow mein. We're not paying enough. There are no loans, really, for a lot of people. So a lot of this money is self-generated money. It's check-to-check money that they're using to keep their business afloat.

But we won't pay more than $6 or $7 for pho or for chow mein. We're not paying enough. There are no loans, really, for a lot of people. So a lot of this money is self-generated money. It's check-to-check money that they're using to keep their business afloat.

But we won't pay more than $6 or $7 for pho or for chow mein. We're not paying enough. There are no loans, really, for a lot of people. So a lot of this money is self-generated money. It's check-to-check money that they're using to keep their business afloat.

Highest fail rate. The dangerous loan. Absolutely. And then just the mathematical equation of opening a restaurant makes no fucking sense to the capitalist system that we want to thrive upon. For example, if we were to sell just product like this model right here, we have what's called margins, right? Which is very simple math.

Highest fail rate. The dangerous loan. Absolutely. And then just the mathematical equation of opening a restaurant makes no fucking sense to the capitalist system that we want to thrive upon. For example, if we were to sell just product like this model right here, we have what's called margins, right? Which is very simple math.

Highest fail rate. The dangerous loan. Absolutely. And then just the mathematical equation of opening a restaurant makes no fucking sense to the capitalist system that we want to thrive upon. For example, if we were to sell just product like this model right here, we have what's called margins, right? Which is very simple math.

You buy this product, you create a certain quantity, you leverage your purveyors to give you a certain price, you maximize efficiencies and you make 30, 40% profit. Restaurant business has 5% profit if you're doing well. Wow. Even if you're doing well. The big boys are different because they're able, the larger you become, the more you're able to leverage your pricing with your purveyors. Right.

You buy this product, you create a certain quantity, you leverage your purveyors to give you a certain price, you maximize efficiencies and you make 30, 40% profit. Restaurant business has 5% profit if you're doing well. Wow. Even if you're doing well. The big boys are different because they're able, the larger you become, the more you're able to leverage your pricing with your purveyors. Right.

You buy this product, you create a certain quantity, you leverage your purveyors to give you a certain price, you maximize efficiencies and you make 30, 40% profit. Restaurant business has 5% profit if you're doing well. Wow. Even if you're doing well. The big boys are different because they're able, the larger you become, the more you're able to leverage your pricing with your purveyors. Right.

And you're able to compromise decisions based on qualities. And a lot of times they have investors that give them runway to make it up. But if you're a small business, okay, so the basic numbers are about 30% food cost. It's about 20 to 30% labor cost. So that's 70% right there. And then you have fixed costs, rent.

And you're able to compromise decisions based on qualities. And a lot of times they have investors that give them runway to make it up. But if you're a small business, okay, so the basic numbers are about 30% food cost. It's about 20 to 30% labor cost. So that's 70% right there. And then you have fixed costs, rent.

And you're able to compromise decisions based on qualities. And a lot of times they have investors that give them runway to make it up. But if you're a small business, okay, so the basic numbers are about 30% food cost. It's about 20 to 30% labor cost. So that's 70% right there. And then you have fixed costs, rent.

I know this is not the most exciting podcast information, but you have costs, utilities, paper goods, toilet paper, plumbing, all that stuff. A squirrel system, internet. POS system, point of sale system, taxes, all that. And that's another 20, 25%. That's 95% right there, just off the top of my head. That leaves you with 5% profit.

I know this is not the most exciting podcast information, but you have costs, utilities, paper goods, toilet paper, plumbing, all that stuff. A squirrel system, internet. POS system, point of sale system, taxes, all that. And that's another 20, 25%. That's 95% right there, just off the top of my head. That leaves you with 5% profit.

I know this is not the most exciting podcast information, but you have costs, utilities, paper goods, toilet paper, plumbing, all that stuff. A squirrel system, internet. POS system, point of sale system, taxes, all that. And that's another 20, 25%. That's 95% right there, just off the top of my head. That leaves you with 5% profit.